President Lee Jae Myung will meet with leaders of major South Korean business groups this weekend to discuss follow-up measures after the release of a joint summit document with the United States on trade and other issues, his office said Friday.
The meeting comes after Seoul and Washington released the joint fact sheet on Friday outlining the agreements reached in their two recent summits, including details of Seoul's $350 billion investment plans in the US in exchange for reducing US tariffs from 25 percent to 15 percent.
The meeting will be attended by Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Executive Chair Euisun Chung, LG Group Chairman Koo Kwang-mo and several other C-suite executives from conglomerates like HD Hyundai and Hanwha, the presidential office said in a message to media.
Lee Jae Myung is expected to use the meeting to explain the details of the final trade deal and steps that could follow, and seek input from business circles.
The fact sheet covers core business sectors of the companies whose leaders will attend the meeting, including semiconductors, automobiles, the defense industry and pharmaceuticals.
Lee is expected to underscore the need to work together as "one team" in adapting to various changes in the current trade landscape.
The meeting could also touch on issues related to domestic investment and job creation, as well as the government's reform efforts in regulation, finance and labor, among others. (Yonhap)
